California Resources Corporation $CRC Shares Bought by American Century Companies Inc.

American Century Companies Inc. raised its stake in California Resources Corporation (NYSE:CRC) by 5.6% during the third quarter, Holdings Channel reports. The firm owned 3,006,430 shares of the oil and gas producer’s stock after purchasing an additional 159,708 shares during the period. American Century Companies Inc.’s holdings in California Resources were worth $159,882,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Clearstead Advisors LLC grew its stake in shares of California Resources by 82.5% in the third quarter. Clearstead Advisors LLC now owns 500 shares of the oil and gas producer’s stock valued at $27,000 after buying an additional 226 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of California Resources during the third quarter worth approximately $29,000. Nomura Asset Management Co. Ltd. increased its holdings in California Resources by 97.9% in the second quarter. Nomura Asset Management Co. Ltd. now owns 930 shares of the oil and gas producer’s stock valued at $42,000 after buying an additional 460 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of California Resources by 29.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 956 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 219 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in California Resources by 21.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,353 shares of the oil and gas producer’s stock valued at $73,000 after acquiring an additional 236 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CRC shares. Barclays set a $65.00 price objective on California Resources and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. TD Cowen raised California Resources to a “strong-buy” rating in a report on Monday, February 9th. Pickering Energy Partners lowered California Resources from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. Wells Fargo & Company reiterated an “overweight” rating and set a $56.00 price objective (down from $58.00) on shares of California Resources in a report on Tuesday, December 9th. Finally, UBS Group set a $63.00 price objective on shares of California Resources and gave the stock a “buy” rating in a report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, California Resources has an average rating of “Moderate Buy” and an average target price of $63.90.

California Resources Price Performance

Shares of CRC stock opened at $58.97 on Monday. California Resources Corporation has a 12 month low of $30.97 and a 12 month high of $60.03. The company has a market capitalization of $4.94 billion, a P/E ratio of 13.71 and a beta of 1.11. The company has a current ratio of 0.89, a quick ratio of 0.78 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $50.85 and a two-hundred day moving average of $49.86.

About California Resources

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.